Hyundai Acquires Commercial Property at 500 West 14th Street in Meatpacking District, Manhattan

500 West 14th Street500 West 14th Street

Hyundai Motor America has acquired a three-story commercial building at 500 West 14th Street in Manhattan’s Meatpacking District with plans to expand its presence in New York City. The existing building features a nondescript brick façade and occupies an entire wedge-shaped block.

Cushman & Wakefield represented Hyundai in the acquisition, which closed at $22.5 million, or about $3,340 per square foot.

“The Meatpacking District remains resilient, as record pricing was established on a price per square foot and per ZFA basis,” said Brock Emmetsberger, senior managing director at B6 Real Estate Advisors in a public announcement of the sale. “We were quite confident that the right buyer, coupled with the perfect use, would place a premium on irreplaceable location that had not traded hands in over 53 years.”

Hyundai will likely renovate or fully replace the existing building, but has not yet filed any plans with the New York City Department of Buildings.

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12 Comments on "Hyundai Acquires Commercial Property at 500 West 14th Street in Meatpacking District, Manhattan"

  1. Showroom perhaps?

  2. The area has become the Electric Car Capitol of New York with Tesla, Rivian, Lucid, Genisis and Mecedes all having showrooms or having temporary presense in the Meat Packing district.

  3. Spelling: Mercedes and Genesis

  4. Aye. Another car dealership.

  5. Used to hang out in the basement there in the early 80s.

  6. It’s looks so cute sitting at that corner… little does it know, it will end up in a landfill? 😔

  7. Frederick H Hecker | September 18, 2023 at 11:06 am | Reply

    Site of Hellfire, the after hours basement sex club & bar.

  8. Hyundai’s luxury car brand has Genesis House immediately next door to this property already – they’re looking to compete with MB, BMW, Audi, even Rolls/Bentley by creating a lifestyle brand focused not just on cars but on other ultra high end experiences. Wouldn’t surprise me if they open a hotel or residential component to match some of their rivals who are diving into this space or were looking for a permanent home for Genesis House? 🤷‍♂️

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